Table V Survey of transparency and...

Table V

Survey of transparency and accountability of SWFs from Muslim countries

		Portfolio overview					Publication of reports
Sr. No.	Name of fund	1	2	3	4	IAD	1	2	Audit report	L-MTI-2018	Rank
1	ADIA	Strategy and planning department	Developed equities (42%), emerging equities (20%), small cap equities (5%), govt. bonds (20%), credit (10%), alternative (10%), real estate (10%), private equity (8%), infrastructure (5%), cash (10%)	North America (50%), Europe (35%), Emerging Markets (25%), Developed Asia (20%)	6.1%	Y	2016 2015 2014 2013	68	N	6	2nd
2	KIA	Planning and senior management department	General reserves, marketable securities, alternative investments	N	N	Y	N	N	N	6	4th
3	SAMA-FH	N	N	N	N	N	N	N	N	6	8th
4	QIA	Investment teams report to CEO/general council and legal	Equities, real estate assets, credit/fixed income, private equity, multi-strategy, real assets	N	N	Y	N	N	N	5	5th
5	PIF	BOD	Saudi Holding, sector development, real estate and infrastructure development, saudi giga-projects, international strategic investment, international diversified pool	N	N	N	N	N	N	5	7th
6	ICD	Three step Investment process/BOD	Finance and investment (27.9%), transportation (18.8), real estate and construction (17.2), hospitality and leisure (15.6), retail and other holdings (2.7)	Africa, Europe America, Middle East, Australia Asia	4.37%	Y	2017 2016 2015 2014 2013	131	Y	5	1st
7	MIC	Investment committee	Aerospace, capital investment, defense service, healthcare Information and communication technology, metals and mining midstream	N	N	Y	N	N	N	10	3rd
8	ADIC	N	N	N	N	N	N	N	N	n/a	8th

		Portfolio overview					Publication of reports
Sr. No.	Name of fund	1	2	3	4	IAD	1	2	Audit report	L-MTI-2018	Rank
1	ADIA	Strategy and planning department	Developed equities (42%), emerging equities (20%), small cap equities (5%), govt. bonds (20%), credit (10%), alternative (10%), real estate (10%), private equity (8%), infrastructure (5%), cash (10%)	North America (50%), Europe (35%), Emerging Markets (25%), Developed Asia (20%)	6.1%	Y	2016201520142013	68	N	6	2nd
2	KIA	Planning and senior management department	General reserves, marketable securities, alternative investments	N	N	Y	N	N	N	6	4th
3	SAMA-FH	N	N	N	N	N	N	N	N	6	8th
4	QIA	Investment teams report to CEO/general council and legal	Equities, real estate assets, credit/fixed income, private equity, multi-strategy, real assets	N	N	Y	N	N	N	5	5th
5	PIF	BOD	Saudi Holding, sector development, real estate and infrastructure development, saudi giga-projects, international strategic investment, international diversified pool	N	N	N	N	N	N	5	7th
6	ICD	Three step Investment process/BOD	Finance and investment (27.9%), transportation (18.8), real estate and construction (17.2), hospitality and leisure (15.6), retail and other holdings (2.7)	Africa, EuropeAmerica, Middle East, AustraliaAsia	4.37%	Y	20172016201520142013	131	Y	5	1st
7	MIC	Investment committee	Aerospace, capital investment, defense service, healthcareInformation and communication technology, metals and mining midstream	N	N	Y	N	N	N	10	3rd
8	ADIC	N	N	N	N	N	N	N	N	n/a	8th

Notes: ADIA, Abu Dhabi Investment Authority (UAE-Abu Dhabi); KIA, Kuwait Investment Authority (Kuwait); SAMA-FH, SAMA Foreign Holdings (Saudi Arabia); QIA, Qatar Investment Authority (Qatar); PIF, Public Investment Fund (Saudi Arabia); ICD, Investment Corporation of Dubai (UAE-Dubai); MIC, Mubadala Investment Company (UAE-Abu Dhabi); ADIC, Abu Dhabi Investment Council (UAE-Abu Dhabi); IAD, Internal Audit Department. The table represented the survey and analysis of accountability and transparency of the top eight SWFs and ranked them in eight positions. Variables: (i) Portfolio overview (1. Department play investment role, 2. Portfolio by asset class (max percent), 3. Portfolio by regions (max percent), 4. Annual returns); (ii) Publication of reports (1. During years, 2017, 2016, 2015, 2014, 2013, 2. Number of pages of report); (iii) L-MTI, Linaburg-Maduell Transparency Index (2018) (out of 10). Y=Yes and N=No

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